"We've always been prepared to consider a carbon price, but we've always said we wanted to know what the impact on jobs would be, on industries and on regions, and indeed whether there would be any benefits," he said.

"Now there significant increases in costs and significant increased in uncertainty and that doesn't help in the current climate."

The Prime Minister, Julia Gillard, says the modelling done by Victoria is a political stunt.

"No-one should be confused about these statistics put out by Premier Baillieu," she said.

"He has purported to model putting a price on carbon without factoring in any of the billions of dollars of assistance to protect Australian jobs he knows are part of the package."